Tangerine has reduced rates on US Saving account to 0.15% | General comparisons | Discussion forum

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Tangerine has reduced rates on US Saving account to 0.15%
December 16, 2016
11:01 am
JustMe2016
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Sheesh they are cheap. They used to pay 0.25% up to very recently. The FED increased by 0.25% and Tangerine's rate goes down. Also no change on GIC.
sf-frown

December 16, 2016
11:11 pm
Loonie
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Good point.
Hubert seems to be a better bet for USD.

December 26, 2016
10:19 am
moneyhelp
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JustMe2016 said

Sheesh they are cheap. They used to pay 0.25% up to very recently. The FED increased by 0.25% and Tangerine's rate goes down. Also no change on GIC.
sf-frown

As of December 1st, 2016, yes.

December 27, 2016
4:42 pm
MMontreal
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Novice here, but if FED rates are trending up, and forecasted rates are trending up, shouldn't savings interest rates go up? Why would rates be going down? Is it a Tangerine thing or market thing?

December 27, 2016
9:21 pm
Righand
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MMontreal said

Novice here, but if FED rates are trending up, and forecasted rates are trending up, shouldn't savings interest rates go up? Why would rates be going down? Is it a Tangerine thing or market thing?

Just another Tangerine thing. They are becoming more & more like the big banks every day, for example, even RBC pays 0.15% on a USD savings account.sf-cry

December 28, 2016
2:29 am
Loonie
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The ARE the Big Banks.
Tangerine is part of Scotia.

It was much more depositor-friendly when it was ING. ING is a large international bank but was small in Canada.

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